Euro chaos as markets reel over rumours September 13, 2011 NERVOUS investors jumped at every rumour yesterday, as politicians failed to calm the spiralling Eurozone crisis and choppy markets. The euro gained against the dollar on reports of an impending “Merkozy” statement between Germany’s chancellor and France’s president. But the single currency slumped back as President Sarkozy’s office denied that any joint statement would be [...]
French bank funding fears are here to stay September 13, 2011 In case you were wondering, the French word for seesaw is “balencoire”. If yesterday’s yo-yoing of French bank share prices is anything to go by, it should come in handy. Just don’t ask what “les plans de sauvetage du gouvernement” means – it doesn’t bear thinking about. Shares in BNP Paribas closed up 7.2 per [...]
Concerned American politicians push European leaders for action September 13, 2011 AMERICAN President Barack Obama has urged Europe’s leaders to push forward with reforms to ease the ongoing debt crisis. “In the end the big countries in Europe … must meet and take a decision on how to coordinate monetary integration with more effective co-ordinated fiscal policy,” Obama told Spanish reporters. The President’s treasury secretary, Tim [...]
UK consumer price inflation reaches 4.5pc September 13, 2011 SOARING inflation continued its rise through August, figures from the Office for National Statistics revealed yesterday. Consumer Price Index (CPI) inflation hit 4.5 per cent over the last 12 months, well on its way to breaking the five per cent level. The Bank of England expects it to peak at above five per cent by [...]
Simpler tax could help to create jobs September 13, 2011 HUNDREDS of thousands of jobs and tens of billions of pounds in national income could be created if the government created a simple, sensible tax regime, according to the Institute for Fiscal Studies’ (IFS) Mirrlees Review out today. And all that can be achieved with no reduction in tax revenues, it said. Current taxes remove [...]
Morrisons share edges up as thrift is order of the day September 13, 2011 MORRISONS has emerged as the current market share winner among the big four grocers as consumers look for savings in the tough economic environment. The grocer’s market share improved to 11.5 per cent in the 12 weeks to 4 September compared to 11.4 per cent in the comparable period last year, figures from Kantar Worldpanel [...]
Mitchells & Butlers turns down new bid September 13, 2011 MITCHELLS & Butlers shareholder Standard Life Investments yesterday branded Piedmont’s 230p per share possible offer “insulting” and accused it of destabilising the company, as the firm rejected the approach. David Cummings, SLI’s head of UK equities, lashed out at Piedmont owner Joe Lewis, claiming his attempt to buy the pub group outright was “wholly unsatisfactory”. [...]
Canopius ramps up Omega pressure with £200m offer September 13, 2011 BIDDING for Lloyd’s insurer Omega heated up yesterday after almost nine months without a breakthrough as its larger rival Canopius offered to buy it for almost £200m. Canopius’ 83p-per-share bid matched the top price offered by investment vehicle Haverford in its bid for 25 per cent of Omega tabled on Monday. But its chief executive [...]
Wonder goal robs Arsenal of vital win September 13, 2011 BORUSSIA DORTMUND (1) vs ARSENAL (1) ARSENAL assistant manager Pat Rice declared the Gunners satisfied with a point despite being denied the perfect start to their Champions League group campaign by a spectacular 89th-minute equaliser. Robin van Persie’s late first-half goal looked set to give the north Londoners a win they barely deserved, having been [...]
World Cup KO for injury jinxed prop Sheridan September 13, 2011 ENGLAND’S World Cup plans have been rocked by the news that experienced prop Andrew Sheridan has been ruled out of the rest of the tournament with a shoulder injury. The 31-year-old had only just recovered from reconstructive surgery on his shoulder but aggravated the problem during Saturday’s bruising encounter against Argentina in Dunedin. England are [...]
